Word: sided
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...been working Wall Street too. In the middle of last week he met with a group of top bankers, including Jamie Dimon of JPMorgan, Lloyd Blankfein of Goldman Sachs and others, and told them that while they were welcome to fight his efforts, the political environment was on his side. "In the long run we all need to restore trust in the system," Geithner told the bankers, according to a top aide familiar with the conversation, "People want to see that something's being done." (Read TIME's cover story, "What's Still Wrong with Wall Street...
...fight he faces may help explain why Geithner was so outspoken on the Hill Thursday. "Now that we have hammered out an agreement with Frank," says the top aide, "it's time to defend it." Geithner's biggest advantage is that the politics of reform are on his side, as he told the big bankers last week. Americans aren't much interested in details, but any appearance of moving forward on reform will have support, while those who try to slow the Administration down will appear to be siding with the big banks and Wall Street. That view is supported...
...side effect of the changes, according to Flores, is that the candidates coming from the “inside” no longer have a significant advantage because the structure...
...Paul O'Neill. Cheney, who rarely allows facts to get in the way of a good ideology, was retailing a myth. Ronald Reagan is remembered for the massive tax cuts passed during his first year in office. But since deficits do matter - and since Reagan's so-called supply-side cuts blasted an enormous hole in the budget - the President had to come back in 1982 with the largest peacetime tax increase in American history: the Tax Equity and Fiscal Responsibility Act, which raised $37.5 billion, or 1% of gross domestic product (GDP), per year. He also signed...
...second prevailing myth of the Reagan Administration, quietly peddled by budget director David Stockman, went like this: O.K., supply-side economics is a phony, but we can use the growth of budget deficits as an argument for limiting the growth of government. That didn't work out so well either. The public demanded its entitlement programs - deficits be damned - and a strong defense, and loved having politicians who secured funding for a Yo-Yo Hall of Fame in their district. Deficits grew until the combined actions of George H.W. Bush and Bill Clinton caused the deficits to stop growing...